FY2020 Earnings Forecast for Parex Resources Inc Issued By National Bank Financial (TSE:PXT)

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Parex Resources Inc (TSE:PXT) – National Bank Financial lifted their FY2020 earnings estimates for shares of Parex Resources in a research note issued on Wednesday, November 6th. National Bank Financial analyst J. Hunt now anticipates that the company will post earnings of $3.04 per share for the year, up from their prior forecast of $2.89. National Bank Financial currently has a “Outperform” rating and a $32.00 target price on the stock.

Separately, Royal Bank of Canada raised their price objective on shares of Parex Resources from C$24.00 to C$25.00 in a research note on Monday, October 21st.

TSE PXT opened at C$20.65 on Friday. The firm has a 50 day simple moving average of C$19.35 and a 200-day simple moving average of C$20.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.07 and a current ratio of 2.15. Parex Resources has a one year low of C$13.62 and a one year high of C$23.51. The firm has a market cap of $2.77 billion and a price-to-earnings ratio of 9.87.

In related news, Director Paul David Wright sold 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of C$21.40, for a total value of C$218,296.32. Following the sale, the director now owns 40,800 shares of the company’s stock, valued at C$873,185.28. Also, Director Curtis Darrell Bartlett sold 53,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of C$21.05, for a total transaction of C$1,119,860.00. Following the completion of the sale, the director now directly owns 446,800 shares in the company, valued at approximately C$9,405,140. In the last ninety days, insiders sold 483,200 shares of company stock worth $10,642,411.

Parex Resources Company Profile

Parex Resources Inc engages in the exploration, development, production, and marketing of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 2,037,753 gross acres. As of December 31, 2018, it had proved plus probable reserves of 184.674 million barrels of oil equivalent.

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